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Myriad Completes Acquisition of Crescendo Bio

Mar 03, 2014 | staff reporter

NEW YORK (GenomeWeb News) – Myriad Genetics said after the close of the market on Friday that it completed its acquisition of autoimmune diagnostics firm Crescendo Bioscience.

Myriad paid $245 million in cash for the deal. The total consideration was $270 million minus $25 million for the repayment of a loan made to Crescendo by Myriad in 2011, Myriad said in a document filed with the US Securities and Exchange Commission.

Crescendo, which is keeping its name, will operate as a wholly owned subsidiary of Myriad.

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